Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Company News

Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

Business

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Business
Business

QatarEnergy, Shell sign agreement

QatarEnergy will supply 18m barrels of crude oil per year to Shell.
  • QatarEnergy and Shell have a long-standing strategic partnership through several shared investments in the energy industry in Qatar and globally.
  • "We look forward to building on our historic relationship and hope we achieve greater success with Shell," said Saad bin Sherida Al Kaabi, CEO QatarEnergy

Apple to appeal US watch ban

The company contends that the ITC finding was in error.
  • The ban on Apple's latest smartwatch models came into effect Tuesday, with the Apple Watch Series 9 and Apple Watch Ultra 2 no longer available in stores or online
  • The ban is the latest legal tussle involving big tech companies over valuable patents that has also seen Google battle in court against Sonos in a fight over speaker tech
Business

IsDB, SWCC sign agreement

The collaboration will involve efforts from both parties.
  • The agreement includes a mechanism for exchanging knowledge and experiences.
  • It would involve transferring the experience of SWCC to the member countries of IsDB.

Saudi Chemical Co announces dividend

The company will distribute $11,385,120 to its shareholders.
  • Shareholders possessing a portion of the 843,200,000 shares eligible for dividends will benefit from this payout
  • Each share is set to receive a dividend of 0.05 SAR, which represents a 5% dividend relative to the share par value
Business

GIB, KSA wrap up Sukuk debut

Gulf International Bank is a merchant bank in the Middle East
  • The bank’s Sukuk programme is aligned with its strategic objectives to facilitate balance sheet growth and contribute to the realization of the national economic objectives
  • GIB Capital’s CEO Osamah Shaker said that the bank is delighted to act as the sole arranger for the establishment of the Sukuk Programme and the Bank’s debut issuance
Business

KPMG’s global revenue touches $36bn

The company has outlined a collective investment of $4.2b.
  • The announcement came in after KPMG International declared the annual globally aggregated revenues for KPMG firms of US$36b for FY23
  • The financial figures highlight robust year-on-year growth of the company, reinforced by a multi-disciplinary approach
Business

Al Saqr names chairman of board

The insurance firm made a slew of new appointments.
  • Saud Saleh Al-Arifi, an independent member, will be the new chairman of the board of directors
  • The company named Naif Rashed Alarfaj, also an independent member, as new vice chairman

Deyaar, Arady Properties sign MoU

Deyaar is a leading real estate developer in Dubai.
  • The MoU outlines the commercial objectives for the project and provides a framework for further negotiations
  • Deyaar has developed strategic partnerships with renowned real estate entities in the region and beyond
Business

TAQA, GS Inima and EWEC seal deal

Abu Dhabi's Shuweihat 4 desalination project secures $444 million.
  • The S4 RO project is primarily funded 71 percent through debt financing from both local and international banks.
  • The financial closing comes after TAQA and GS Inima signed the water purchase agreement with EWEC in August 2023.
Business

ESG buys majority stake in UIG

The move is likely to enhance ESG’s manpower portfolio.
  • ESG is a global investment, engineering and construction services business and a subsidiary of International Holding Company.
  • The strategic plan aims to deploy over 30,000 skilled professionals by the end of 2024, serving various sectors.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.
Business

Company News

GAS, SPPC ink two contracts

ADIB 2023 net profit $1.4bn

QFC signs two MoUs

Chevron $53bn Hess deal in danger

AI entity is Board Observer in IHC

Latest News

DAE net profit up 36.2%

Revenues grew by 9 percent to $1.42bn from $1.31bn in 2023.
Business

Borouge 2024 net profit $1.24bn

The company said it will maintain a $1.3bn dividend for 2025.
Business

ADQ, Orion to establish JV

The partners commit to deploying $1.2bn in the next four years.
Business

Most Read

Business

Samsung says planning job cuts

The layoffs could affect about 10 percent of the workforce.
  • The world's largest memory chipmaker is modifying staffing levels in Southeast Asia, Australia, and New Zealand, a company spokesman told AFP
  • The "routine workforce adjustments" are carried out "to improve operational efficiency," said Samsung Electronics in a statement
Business

GM reports US sales dip, that of EVs grew

The big Detroit automaker reported 659,601 US sales during the period.
  • The big Detroit automaker reported 659,601 US sales during the period, down 2.2 percent from the year-ago but marking a slightly smaller decline than analysts projected
  • GM described its EV portfolio as "growing faster than the market" with sales jumping 46 percent in the third quarter, topping 32,000

Xiaomi posts solid quarterly sales growth

The company is Chinese smartphone and household tech giant.
  • The brand's presence is strongly felt in China, with its wide range of products spanning mobiles, tablets, smartwatches, headphones, scooters and, recently, electric vehicles
  • The world's third-largest smartphone maker, Xiaomi reported revenue of 88.9 billion yuan ($12.5 billion) in the second quarter, an increase of 32 percent year-on-year